Test 5 - Debt Settlement vs. Debt Consolidation.

Please read each statement carefully, then indicate if it is "True" or "False". When done, click on the button "Check Answers".

 

1. Debt consolidation allows an individual to pay all or most of his debt at a lower interest rate and less time than Debt Settlement.

True False
 

2. The best defense to creating debt is to prevent yourself from accumulating too much in the first place.

True False

 

3. When considering a Debt Settlement Company, it is not relevant to investigate the company's reputation.

True False

 

4. You do not have the right to require a written agreement that matches what was advertised by the Debt Settlement Company that you select.

True False

 

5. By law, you only have 1 day to change your mind during which time you have the right to cancel a contract without penalty.

True False

 

6. If you are currently experiencing a large amount of debt and you have equity in your house, a debt consolidation loan is the only option that homeowners should consider.

True False

 

7. As amazing as the debt settlement service is, it will only work if you stay on top and not fall off the edge.

True False

 

8. Debt secured by a home generally carries a much hirer rate than other loans.

True False

 

9. Given the choice of making many payments each month, it is easier to make just one.

True False

 

10. Debt consolidation programs are good for every situation.

True False

 

11. You may end up paying more total interest if you use a debt consolidation loan rather than a Debt Settlement program.

True False

 

12. Many people will turn to Debt Settlement Companies to negotiate with creditors and manage their monthly payment issues.

True False

The content of this website is informative only.

FreeOfDebtUniversity.com does not provide any kind of Legal or Financial Advice.

Copyrightę 2009-2010 SX3 Software, LLC. All rights reserved.

Reproduction of any portion of this website is strictly prohibited.